Economic Outlook forecasts sharp rise in unemployment as recession takes hold across OECD

The number of unemployed in OECD countries is expected to rise by about 8 million people over the next two years as the most serious recession since the early 1980s takes it toll on economic activity, according to the latest OECD Economic Outlook.

The main challenges facing the Spanish economy are to minimise the economic costs of the current downturn, move workers shed to new jobs, and to raise sustainable productivity growth including by improving human capital formation and competition in product markets.